Accounting and Tax Outsourcing
Efficient – Thorough – Reliable
Services
General description of the service
With this service, we act as the client’s accounting and tax department, executing and managing all accounting and tax-related activities to ensure full compliance with Vietnamese legal regulations. Our outsourced accounting and tax services include bookkeeping, tax filing and finalization, chief accountant services, preparation of financial statements, and audit support for financial statements.
Service deliverables include financial statements tailored to client requirements, official tax reports (including tax returns, corporate income tax (CIT) reports, value-added tax (VAT) reports, personal income tax (PIT) reports, foreign contractor tax (FCT) reports, etc.), fully analyzed and recorded accounting documents, along with detailed guidance on accounting and tax procedures.
Our objective is to help businesses maintain accuracy and timeliness in accounting and tax operations, minimize legal risks, optimize tax costs, and ultimately allow businesses to focus on their core activities.
Context for utilizing our services
- Small and Medium-sized Enterprises (SMEs): SMEs with limited resources to maintain an in-house accounting and tax department can outsource this service to save costs and ensure compliance with current tax and accounting regulations. This allows businesses to focus on core operations while experts handle accounting and tax tasks efficiently and accurately.
- Large Enterprises or Multinational Companies: These businesses may require a flexible, optimized accounting and tax solution that fully complies with both domestic and international tax regulations. Outsourcing helps reduce operating costs while minimizing risks related to errors in financial reporting and tax declarations.
- Newly Established Companies or Startups: Often lacking sufficient staff to build an internal accounting and tax function, startups can outsource these services to ensure legal compliance from the outset, while building a solid financial foundation as the business grows.
- Businesses Seeking to Optimize Costs and Save Time: By outsourcing, businesses reduce personnel and management costs while ensuring that financial statements and tax reports are handled accurately and on time. This enables companies to focus on growth strategies without worrying about accounting and tax matters.
Service delivery process and timeline
Service process
- Conduct an initial assessment and collect information about the enterprise, including its size, business sector, finance organisational structure, and specific financial and tax reporting requirements.
- Identify the types of taxes the enterprise is required to declare and assess the complexity of its tax transactions.
- Based on the assessment results, propose an appropriate scope of services that reflects the enterprise’s actual circumstances.
- Provide clear information, requirements and explanations regarding the proposed scope of services.
- Set up the accounting information system, accounting software, chart of accounts and detailed ledgers.
- Register the accounting system, financial year, reporting templates and procedures for retaining accounting documents.
- Establish tax-related procedures and processes.
- Analyse the supporting document packages received from the client and record the transactions in the accounting software.
- Review and analyse transactions to determine the appropriate tax obligations, while notifying the client of any issues identified and recommending appropriate solutions.
- At the end of each month, perform expense allocations, estimate tax liabilities, calculate inventory costs and determine the cost of goods sold.
- Support the client in issuing invoices, where applicable.
- Perform tax allocations, where applicable, for taxes arising during the period.
- At the end of each month, prepare and provide financial and tax reports to the client as required. These reports include accounting and tax information as well as key financial indicators.
- Provide detailed explanations of report items upon the client’s request.
- Submit tax reports to the tax authorities and other reports as required by regulatory authorities.
- Support the client in providing explanations to the tax authorities regarding matters related to tax returns.
- At the end of the financial year, prepare statutory financial statements and internal reports for the client’s approval.
- If authorised, submit the financial statements to the independent auditor and the tax authorities.
- Provide relevant reports to regulatory authorities and the tax filing function.
Timeline for Service Delivery
The timeline for delivering outsourced accounting and tax services is continuous and operates according to the client’s usage needs. It depends on the specific scope of work.
As this is an ongoing service, we will maintain continuous and flexible support, adjusting processes according to the client’s requirements from bookkeeping, tax declaration, and reporting to data security and periodic updates. The execution and maintenance timeline will be tailored to client cooperation and the frequency of required changes or updates.
Quotation process and service fees
To prepare and send you a tailored quotation, we kindly request that you provide relevant information via our form and/or through an in-depth discussion. Based on the information collected, we will analyze your needs and specific requirements in order to:
- Assess the feasibility of service delivery: Determine whether we can provide the requested service appropriately and at a guaranteed quality level.
- Advise on optimal solutions: Recommend alternative solutions (if any) to help optimize efficiency and cost-effectiveness for your organization.
If we are able to support you, we will propose a reasonable fee based on:
- An estimated workload of the engagement;
- The level of professional expertise required from our team.
Estimated response time: The quotation process will be completed within 12 to 24 hours upon receiving your request.
Frequently asked questions
1. Does this service ensure data confidentiality?
Yes, we are fully committed to maintaining the absolute confidentiality of your financial and tax information, in compliance with data protection regulations.
2. Do I need an in-house accountant if I use this service?
No, we will fully replace your internal accounting and tax function, so you do not need to maintain separate accounting staff.
3. Who is responsible if there are errors in the financial reports?
We are committed to providing accurate and timely services; if any errors occur due to our fault, we will take responsibility for correcting them and covering any related costs.
4. Will this service keep me updated on the latest tax policy changes?
Absolutely, we continuously monitor tax policy updates and will keep you informed to ensure full compliance with legal requirements.
5. How can I ensure my tax reports are always submitted on time?
We track deadlines and submit tax reports within the regulatory timeframes, while notifying you ahead of each tax filing period.
6. Does the service assist with tax authority inquiries or audits?
Yes, we will support you in responding to tax authority inquiries, providing all necessary documents and explanations as required.
7. Can my business use the outsourced accounting and tax service for short-term projects?
Yes, our service can be applied to short-term projects, offering reasonable fees and a flexible scope of work tailored to your needs.
Brand commitment
Crowe Vietnam is committed to building and delivering on its brand personality, with the goal of fostering trust and providing an exceptional experience throughout our journey with clients and partners.
High professional quality at a reasonable cost
Crowe Vietnam is committed to delivering high quality solutions and services at reasonable costs, ensuring an exceptional client experience. We consistently strive for differentiation and continuously enhance the professional capabilities of our team to best meet the evolving needs of our clients.
A portrait of our clients & business partners
We aspire to collaborate with clients and partners who are committed to:
Insights
News
Overview of Crowe Vietnam
Top 9
International brand in Audit, Accounting, Tax, and Business Advisory
Top 9
Audit service provider for FDI enterprises in Vietnam
Top 15
Audit and Advisory service providers in Vietnam
18+
Years of operation (since 2008)
200+
Personnel (350+ including personnel of Crowe’s business associates in Vietnam)
4
Offices
1000+
Clients (1500+ including clients of Crowe’s business associates in Vietnam)
Crowe Vietnam Introduction Video
Why choose us for this service?
Choosing the right service partner is a key factor in ensuring both effectiveness and peace of mind. Here’s why Crowe Vietnam is the trusted choice for you.
International Brand
Crowe Vietnam is a full member of Crowe Global, a top 10 global network of audit, accounting, tax and advisory firms operating in 150 countries. Our international brand enables us to deliver high-quality outsourcing services.
Assured Expertise
With a team of experienced professionals holding internationally and locally recognised qualifications such as ACCA, CPA, CTA, ICAEW,... Crowe Vietnam is committed to delivering outsourcing services of outstanding professional quality.
Professional Services
Our clients regularly receive useful newsletters and publications, participate in professional seminars with experienced specialists, and access a range of modern, practical support tools developed and continuously enhanced by Crowe Vietnam.
Strict Confidentiality
Crowe Vietnam places the highest priority on confidentiality and compliance, applying rigorous control measures to protect client information and prevent data security risks, thereby ensuring maximum transparency and security.
Global Support
Through the Crowe Global network, we are always ready to help our outsourcing service clients access international professionals & seconded personnel, providing comprehensive support to address complex issues in global business environment.
Reasonable Fees
Crowe Vietnam delivers high-quality outsourcing solutions at reasonable fees, helping clients optimise costs. By continuously improving operational efficiency, we help clients achieve maximum value within an appropriate budget.
Senior Personnel
Nam Nguyen
Chairman & Managing PartnerFCPA, CTA, FCCA
Lam Vu
General Director & Audit DirectorCPA VN, CPA AU, CTA, MA
Linh Nguyen
Partner, Tax & AdvisoryCPA VN, CPA Aust., CTA
Phat Tran
Partner, Audit & AssuranceFCCA, CIA, CPA VN, CTA